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Jan 22, 2013
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. >>> phil mickelson is teed off about taxes. he is threatening to leave california thanks to a higher tax rate on the wealthy. we will talk to robert frank about this in a minute, but first, jane wells, does he have a point? >> the wonder is why he stayed so long, except san diego is a nice place. florida is nice, too. mickelson will pay california a new rate of 13.4% retroactive to the beginning of last year. running the numbers, "sports illustrated" estimates he made 60 million in 2012, that means 64 million in ju 6.4 million in california taxes, and he owes an extra 1.8 million. but if he moves, california loses everything. some of those smaller tournaments may leave the state if golfers decide to golf at rival events. tiger woods and the williams sisters long ago left california for florida, maybe not for tax purposes but they haven't moved back. lebron james went to the heat instead of the heat so the clippers could save tens of millions over his contract. and taxes were in the conversation when peyton manning was debating
. >>> phil mickelson is teed off about taxes. he is threatening to leave california thanks to a higher tax rate on the wealthy. we will talk to robert frank about this in a minute, but first, jane wells, does he have a point? >> the wonder is why he stayed so long, except san diego is a nice place. florida is nice, too. mickelson will pay california a new rate of 13.4% retroactive to the beginning of last year. running the numbers, "sports illustrated" estimates he made...
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Jan 23, 2013
01/13
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here is a case where higher tax rates will give you lower tax revenues. we have that weird income of the wealthy was shifted in december. we don't know what is going to happen in the first quarter. and i read today former president of france is leavinin france because he doesn't want to pay a 75% tax rate. >> anyway, great stuff cnbc robert frank. thank you. >> life, liberty and the pursuit of happiness. i love that. freedom and free markets, i'm larry kudlow, i'll see you tomorrow night. hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. you know it can be hard to lbreathe, and how that feels.e, what's the rush? copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups.
here is a case where higher tax rates will give you lower tax revenues. we have that weird income of the wealthy was shifted in december. we don't know what is going to happen in the first quarter. and i read today former president of france is leavinin france because he doesn't want to pay a 75% tax rate. >> anyway, great stuff cnbc robert frank. thank you. >> life, liberty and the pursuit of happiness. i love that. freedom and free markets, i'm larry kudlow, i'll see you tomorrow...
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Jan 18, 2013
01/13
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what have we done on the tax well, we have raised taxes on capital. we haven't cut the corporate income tax. we haven't done anything on immigration, we have added more regulation. if you want to add an expensive regulation, fine, get rid of one. we have not been thinking of the regulation or tax or spending on growth. listen, given how big the debt is, according to ken rogueoff we are past the red zone where the amount of debt we have is slowing growth. we need to deal with that too. >> we just put $1.3 trillion on. that came out today. small business, the backbone of the economy, they got a big tax hike. i think that's the most regrettable. instead of paying 40% plus 3.8% obama care, i don't think the small business should pay more than 25%. i don't think the large business should pay more than 25%. those are both anti-growth measures from president obama. >> well, we should have free lunches too, larry. look, someone has to pay for government and the reality is you were talking about the past when we had more rapid growth. we did have more rapid gr
what have we done on the tax well, we have raised taxes on capital. we haven't cut the corporate income tax. we haven't done anything on immigration, we have added more regulation. if you want to add an expensive regulation, fine, get rid of one. we have not been thinking of the regulation or tax or spending on growth. listen, given how big the debt is, according to ken rogueoff we are past the red zone where the amount of debt we have is slowing growth. we need to deal with that too. >>...
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Jan 22, 2013
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some basic tax planning thing. he's probably paying, let's get the number here, more on the order of around 50% to 52%, that's being very conservative. the top paid americans when you look at the irs code, the highest paid 400 earners and millionaires are paying around 20%, that's the average for most millionaire earners. between 20% and 50%, not 62% or 63%. >> what we can tell of his income, his income mostly derives from tournament wings or endorsement income. it's not investment income, which is how the wealthy people typically lower their rated. >> he's correct, he's the guy getting hit. you're talking about people who earn a lot of money in ordinary income, they are the ones getting hit. he's like a lot of rich guys, especially in california now who are saying maybe this is -- >> move to florida, right? >> he probably has a point but he still will be taking home $25 million. someone with such a great image in golf t doesn't send the right message. >> many are accusing him of being a whiner about this. >> also
some basic tax planning thing. he's probably paying, let's get the number here, more on the order of around 50% to 52%, that's being very conservative. the top paid americans when you look at the irs code, the highest paid 400 earners and millionaires are paying around 20%, that's the average for most millionaire earners. between 20% and 50%, not 62% or 63%. >> what we can tell of his income, his income mostly derives from tournament wings or endorsement income. it's not investment...
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Jan 16, 2013
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. >> you want to go for more tax increases after the tax increases that went through on the fiscal cliff? >> i think closing loopholes, i think there has to be revenue enhancement and closing loopholes, already raised the tax rates, but there's got to be some spending cuts to go along with it. i'm not going to give away the store unless we get something in return. >> you did that already. did you that already at the end of the year? >> i'm not in congress thankfully. i'm running a very fiscally prudent state that's well managed and lives within its means and saves money for a rainy day and is growing the economy to produce more growth money by expanding a healthy economy. washington would do a lot to listen and watch what we're doing in utah because we're doing it right. >> you sure r.governor, thanks very much. appreciate your time today. >> thank you. >> we'll see you soon, governor. thank you. >> headed towards close, sort of meandering here, and much of the decline for the dow, down 32 points, the result of boeing's decline today which we'll be talking about. >> up next, jpmorgan ceo
. >> you want to go for more tax increases after the tax increases that went through on the fiscal cliff? >> i think closing loopholes, i think there has to be revenue enhancement and closing loopholes, already raised the tax rates, but there's got to be some spending cuts to go along with it. i'm not going to give away the store unless we get something in return. >> you did that already. did you that already at the end of the year? >> i'm not in congress thankfully. i'm...
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Jan 22, 2013
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frustrated about higher taxes? so is golf pro phil michelson who suggested, quote, drastic changes ahead for him because of tax pain. we're going to discuss whether rich people are really moving to avoid the tax man's blow. next. >> we have certainly stories on that. >> litter, a super conservative governor raises taxes to fund her state's responsibility for the new health care law. stick around. could happen in for states as well. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. >>> you've probably heard by now golf phil michelson has apologized for those remarks that he said over the weekend when he said big changes would be coming in his own life due to his rising tax rate in california but didn't go so far as to say those changes were not coming with that apology. brian schactman has that story. >> well, you know, phil sa
frustrated about higher taxes? so is golf pro phil michelson who suggested, quote, drastic changes ahead for him because of tax pain. we're going to discuss whether rich people are really moving to avoid the tax man's blow. next. >> we have certainly stories on that. >> litter, a super conservative governor raises taxes to fund her state's responsibility for the new health care law. stick around. could happen in for states as well. at a dry cleaner, we replaced people with a...
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Jan 17, 2013
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but they also got a tax benefit, the tax rate was 23% versus the expected 27%. and then their guidance, they guided to a midpoint, intel, of $12.7 billion when the street was looking for $12.9 billion. the pc client group, one of the groups i pointed to as being important in advance of the earnings, that was down 6% year of year revenue wise to $8.5 billion. it was $8.6 billion a quarter ago. but you know, there's some other things that are questions. mainly, of course, what intel's plan is for mobility. they talked about design wins but we really haven't seen them take on folks like qualcomm in a meaningful way yet. they need to do that, part of doing that will be getting lte built into their chip solution, so, that's going to be one of the questions analysts will have. gross margins holding up relatively well at 58%, which is down from a year ago, but they are guiding to 60% gross margin for fiscal 2013. >> jon, thank you. he will fill us in with that conference call. dr. j, you are been looking at these, first of all, the earnings came out early. we don't kno
but they also got a tax benefit, the tax rate was 23% versus the expected 27%. and then their guidance, they guided to a midpoint, intel, of $12.7 billion when the street was looking for $12.9 billion. the pc client group, one of the groups i pointed to as being important in advance of the earnings, that was down 6% year of year revenue wise to $8.5 billion. it was $8.6 billion a quarter ago. but you know, there's some other things that are questions. mainly, of course, what intel's plan is for...
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Jan 17, 2013
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rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jelly sandwiches rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, double where we were not that long ago, and the analysts were determined to tell you housing is about to go all tepid, numbers don't fit into the scenario, not a negative one and that's the story of the market right now bullish backs getting in the way of the bearish story. now, i will tell you on any given day, we're capable of a serious swoon and we are due for one. holy cow. maybe dow and intel not so hot tonight can cause one sell, sell, sell. this feels like a moment like the mid 1980s where the bulls areaa lay boeing. it seems like when i was a young, curly haired kid. i want to see the amazing con colombia ra glomerate. one of those rare things, when you can get an audience with an investment titan. he heard i had a hot hand. he wanted to know what i was thin
rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jelly sandwiches rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, double where we were not that long ago, and the analysts were determined to tell you housing is about to go all tepid, numbers don't fit into the scenario, not a negative one and that's the story of the market right...
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Jan 17, 2013
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not going to save our way out or tax our way out, but those things do matter. i'm glad ceos are spending time expressing their thoughts on these issues. >> but we're living cliff by cliff. >> yes. >> it's amazing to me that we haven't, you know, put out real solutions. has this, do you think, become an impediment for business? has it become an impediment for your business that all this uncertainty and the fact that we can't make any decisions in washington, even though the corporate balance sheet is quite strong. >> absolutely. what did we talk about in december? nothing but fiscal cliff. it even drove santa claus off the front page. all we talked about. >> that's true. >> now the debt ceiling and then it's sequester and the continuing resolution. we go from this cliff to that cliff, and we don't deal with the problem. if we deal with the problem, there's so many assets in america. we can grow our way out of this. >> let me ask you about getting out of a problem and for many it's regular laying. after the 2008 upset, the banking sector has faced much higher reg
not going to save our way out or tax our way out, but those things do matter. i'm glad ceos are spending time expressing their thoughts on these issues. >> but we're living cliff by cliff. >> yes. >> it's amazing to me that we haven't, you know, put out real solutions. has this, do you think, become an impediment for business? has it become an impediment for your business that all this uncertainty and the fact that we can't make any decisions in washington, even though the...
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Jan 17, 2013
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there's tax issues we might revis revisit. real quickly, the spreads are starting to widen. maybe that's why businesses really at that point in these markets while the tapping is good. >> thank you, rick. survey monkey. it's a web-based survey company has raised $800 million in debt. one of the largest and one of its newest investors happens to be google. kayla tausch has been following this. >> thank you, dave, for being here. rare east costa peerns to announce this newest round of funding. $800 million. no small amount. more than most spaul public companies raise going public. >> we've been working on this for over a year. we decided there's a lot of good reasons to go public. if you need capital, you need equity and if you just need liquidity and you could find that from being private, we said if there's a good way to do it and get liquidity for investors and employees was do that. we brought in new equity and brought in debt. >> raising debt for a private growth-oriented technology company. not something that happens very often. i know you had meetings with those investo
there's tax issues we might revis revisit. real quickly, the spreads are starting to widen. maybe that's why businesses really at that point in these markets while the tapping is good. >> thank you, rick. survey monkey. it's a web-based survey company has raised $800 million in debt. one of the largest and one of its newest investors happens to be google. kayla tausch has been following this. >> thank you, dave, for being here. rare east costa peerns to announce this newest round of...
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Jan 17, 2013
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didn't make sense to take it last year because you want to pay as much in tax last year because the rates were lower for folks in those higher earner brackets. now those same folks have been taking and that's the pressure on apple the last few weeks. >> coupling on halftime it's the fight on the street that everybody is talking about. herbalife is going on the offensive. and oil spiking to four month highs we're heading to the pits to find out crude's next stop. we're back in two minutes. i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. >> welcome back. let's take a look at shares of bank of america. we're trading at the loss of the sees. the compa
didn't make sense to take it last year because you want to pay as much in tax last year because the rates were lower for folks in those higher earner brackets. now those same folks have been taking and that's the pressure on apple the last few weeks. >> coupling on halftime it's the fight on the street that everybody is talking about. herbalife is going on the offensive. and oil spiking to four month highs we're heading to the pits to find out crude's next stop. we're back in two minutes....
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Jan 23, 2013
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is that because of this situation right now the way we're talking about taxes in america? >> the short answer is no. we feel a responsibility to return to our community and for everything that they do, and we have created a foundation, and we focus on education. we focus on helping eliminate poverty in america, and we have very structured programs where we match employee gifts, and we're proud to save. >> you don't think the shareholders were angry about that or upset with that, or your first duty isn't to the shareholder? >> the shareholders would not have received -- would have received this and would have gone into our cash flow and more generally we have very substantial cash flow. we have no doubt. we're able to invest at the levels we want. >> okay. >> we're in a situation where we are able to return to our communities across america. >> i should have probably asked this first, but i'm going ask you as you let it go here. you're down 15 plus%. what do you make of that and say to the share holders who have been fleeing today? >> would i say it's a moment in time and s
is that because of this situation right now the way we're talking about taxes in america? >> the short answer is no. we feel a responsibility to return to our community and for everything that they do, and we have created a foundation, and we focus on education. we focus on helping eliminate poverty in america, and we have very structured programs where we match employee gifts, and we're proud to save. >> you don't think the shareholders were angry about that or upset with that, or...
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Jan 16, 2013
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another year where we don't see big tax revenues coming in because we're not creating a lot of jobs. the economy is growing less than 2%, and we're still bragging about what a great year it is for stock returns. >> maria, can i jump in here for a moment. >> i think, rick, got to stop looking at the glass being half empty. it will be a weak fourth quarter but that's mostly because of weak exports and inventories. the u.s. consumer doing pretty well. >> what about all the activity we pulled from the first quarter based on the fiscal cliff you? think the first quarter is really going to be that much better? >> look at the information we have now. a pry pry try survey done by isi of home builders and said january will be a blockbuster month for home building, and let me bring up two other points that don't get mentioned here. the mortgage foreclosure settlement and a couple other things on the regulatory front, the liquidity ratios being eased up, a very good environment for lending, very solid for housing. i can see a lot more reasons to be positive than negative right now. >> if intere
another year where we don't see big tax revenues coming in because we're not creating a lot of jobs. the economy is growing less than 2%, and we're still bragging about what a great year it is for stock returns. >> maria, can i jump in here for a moment. >> i think, rick, got to stop looking at the glass being half empty. it will be a weak fourth quarter but that's mostly because of weak exports and inventories. the u.s. consumer doing pretty well. >> what about all the...
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Jan 17, 2013
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obama demands the wealthy pay their fair share of taxes. but, he's just another elitist hypocrite when it comes to a fair share of security. protection for their kids, and gun free zones for ours. >> all right. the white house called the ad repugnant and cowardly. i think they are right. can i say something about this partisan back and forth. we have just come out of a heinous mass murder atrocity which is of course a complete national tragedy. all right. is it possible, just once that the republicans and the nra and democrats and the president can stop this cheap unseemly squabbling just once? may we have a civilized conversation about what this nation can do to avoid another horrible sandy hook? all i want, all i want is a civil conversation. there's a lot of very complex pieces here and they need the best minds to figure this out. i just want the squabbling to stop. this is worst than the fiscal squabbling and the debt ceiling. you know why? the stakes are higher. we're talking human lives. those little baby angels. let's try in their me
obama demands the wealthy pay their fair share of taxes. but, he's just another elitist hypocrite when it comes to a fair share of security. protection for their kids, and gun free zones for ours. >> all right. the white house called the ad repugnant and cowardly. i think they are right. can i say something about this partisan back and forth. we have just come out of a heinous mass murder atrocity which is of course a complete national tragedy. all right. is it possible, just once that...
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Jan 16, 2013
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the decision when you spend the money or raise taxes -- >> thank you very much for your answer. hope you will come back and join us again sometime. >> thank you. >> second inauguration of president obama takes place on monday, january 21st. that will martin luther king, jr. he will be sworn in on the day before, the 20th, as per the constitution. i will host a special cnbc event. it begins at 11:00 a.m. eastern time. that is, monday, martin luther king, jr. day. >> sue? >> ty, shares of lululemon continue to be under pressure on the back of the latest outlook. what is ahead for the yoga appear el maker? courtney is live in miami. courtney? ♪ ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. how did i know? well, i didn't really. see, i figured low testosterone would decrease my sex drive... but when i started losing energy and became moody... that's when i had an honest conversation with my doctor. we discussed all the symptoms... then he gave me some blood tests. showed it was low t.
the decision when you spend the money or raise taxes -- >> thank you very much for your answer. hope you will come back and join us again sometime. >> thank you. >> second inauguration of president obama takes place on monday, january 21st. that will martin luther king, jr. he will be sworn in on the day before, the 20th, as per the constitution. i will host a special cnbc event. it begins at 11:00 a.m. eastern time. that is, monday, martin luther king, jr. day. >> sue?...
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Jan 22, 2013
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he stays in california, tax bill is $29 million. so if he moved to florida, he would save $6.25 million. >> the tax bill is 29 million? >> 29 million out of 47. that's not bad. that's pretty good. but he could move to florida and keep half, basically keep half instead of keeping 18 out of 47. >> for a guy who is on the road a lot of the time. >> and then the asteroid thing, i saw what al rockier was able to -- he got a lot of mileage out of that story. >> so are you about to make a confession? >> it's not really true. today i'm feeling fine. coming up, i'm going to start being more open. >> more open? i know everything about you. >> to viewers. >> our viewers know just about everything, too. >> if i feel like i have to burp, i am going to -- >> you are not a closed book. >> could you be more open than al roker about something? >> probably not. >> probably not. so every little thing happens to me. >> oh, boy, viewers, look out. >> anyway, if you've ever been worried about what your boss -- uh-oh, i forgot about him. about what your b
he stays in california, tax bill is $29 million. so if he moved to florida, he would save $6.25 million. >> the tax bill is 29 million? >> 29 million out of 47. that's not bad. that's pretty good. but he could move to florida and keep half, basically keep half instead of keeping 18 out of 47. >> for a guy who is on the road a lot of the time. >> and then the asteroid thing, i saw what al rockier was able to -- he got a lot of mileage out of that story. >> so are...
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Jan 18, 2013
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if you study the situation deeply, you see that japanese debt is about 24 times central government tax revenues. when you get into that, when you sail into that zone of insolvency, nothing you can do can help, in my opinion. they would have imploded under their own weight a few years down the road. now they talk about targeting 2% inflation. they don't realize it will force them to explode sooner. >> your criticism is well known, even to japanese ministers of finance, i would argue. >> first of all, when you think about a crisis, 99.9% of the people get it wrong. when you think about 20 years of the procycal cality, the owner ship of bonds of japan is the institutional community. they buy the bonds because they have 28 basis points of yield on the five-year and 70 on the ten. the only way you invest on a bond like that is if they promise deflation. when they tell you they will target 2% deflation the swing will detonate the time bomb. >> you believe your time line has been moved up. >> correct. >> some say, kyle, you have been with david many times over the last three or four years. yo
if you study the situation deeply, you see that japanese debt is about 24 times central government tax revenues. when you get into that, when you sail into that zone of insolvency, nothing you can do can help, in my opinion. they would have imploded under their own weight a few years down the road. now they talk about targeting 2% inflation. they don't realize it will force them to explode sooner. >> your criticism is well known, even to japanese ministers of finance, i would argue....
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Jan 22, 2013
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federal income tax rate, new rate 39.6%. california income tax, proposition 30, just raised it to 13.3%. that gets you to 52.9% with those two numbers alone. medicare/medica medicare/medicaid, another 2%. health care, 9%. self-employment taxes, 15.3%, but only on income over $113,000. so it's really 2.9% for him there. local taxes where he wins his tournaments, maybe another 1% to be con receiver tiff. what does all that add up to? basically it's around 59% to 60%. and that is without any basic planning. even if phil used turbo tax, he could get that number way down. let's take a look. if he deducted his california state taxes from federal, that's pretty standard. he reduces it. he could deduct his golf expenses. those i guess would be substantial. basic retirement planning, 401(k), i.r.a., probably does that. if he earns any income from investments, those, of course, are taxed at 20% to 20.8%. if he has a mortgage, if he deducts his child care expenses, et cetera. so very basic tax planning, where does that get us? well, it
federal income tax rate, new rate 39.6%. california income tax, proposition 30, just raised it to 13.3%. that gets you to 52.9% with those two numbers alone. medicare/medica medicare/medicaid, another 2%. health care, 9%. self-employment taxes, 15.3%, but only on income over $113,000. so it's really 2.9% for him there. local taxes where he wins his tournaments, maybe another 1% to be con receiver tiff. what does all that add up to? basically it's around 59% to 60%. and that is without any basic...
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Jan 16, 2013
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had that concluded at the beginning of the year is, i think people that are bearing the brunt of the tax increases, think on really marginal level are going to see to pull back in spending. and i think tiffany's preannouncement last week, they didn't give guy danidance yet, it's going to be interesting. i'm going to -- i suppose that we're going to see the first half is slightly weak and that could lead to some worries about recession. >> okay. let's move on and talk ebay here. it is moving higher in the aftermarket session after posting earnings. jon fortt joins us now with the latest. jon? >> yeah, melissa. ebay's ceo taking a bit of a victory lap now. let's look at the numbers they did in the quarter. revenue with $3.99 billion. a little bit above expectations. eps, 70 cents above the 69. the guidance came in light, but it looks like wall street is willing to shrug that off, because overall, the numbers are so strong. i'm point out marketplace was up 16% revenue. paypal up 24%. gsi up 10%. and right now, they're taking up mobile and the potential that has for the rest of this year. to
had that concluded at the beginning of the year is, i think people that are bearing the brunt of the tax increases, think on really marginal level are going to see to pull back in spending. and i think tiffany's preannouncement last week, they didn't give guy danidance yet, it's going to be interesting. i'm going to -- i suppose that we're going to see the first half is slightly weak and that could lead to some worries about recession. >> okay. let's move on and talk ebay here. it is...
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Jan 22, 2013
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california and state tax hikes. the four-time major winner says he may move out of california or even retire. mickelson says if you add up everything, his tax rate is about 62%. he flirted with becoming part-owner of the san diego padres baseball team but backed out and now says taxes had something to do with it. so it seems we have our own version of girard dipardou. >>> one of the big points about yesterday's presidential inauguration was what michelle obama would wear. earlier monday, as you can see there, michelle obama wore a navy coat and dress by tom brown and belt and gloves by j. crew. that's another long time favorite. the first lady has established herself as an international style trend setter and the clothes she has worn have sold out at retailers. j. crew is private now, but who knows, maybe there will be investor demand soon. u.s. "squawk box" is up next.
california and state tax hikes. the four-time major winner says he may move out of california or even retire. mickelson says if you add up everything, his tax rate is about 62%. he flirted with becoming part-owner of the san diego padres baseball team but backed out and now says taxes had something to do with it. so it seems we have our own version of girard dipardou. >>> one of the big points about yesterday's presidential inauguration was what michelle obama would wear. earlier...
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Jan 16, 2013
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you need tax reform, in my view, corporate pad taxes are too high in the competitive world we're in. get those issues in front of them and then deal with the spending issues, which primarily are in medicare-medicaid and some of the other domestic -- >> how should people feel when they read this john boehner interview where he said the president said, we don't have a spending problem. how should people feel about that? >> if he said that, there's no way to agree with that. look, we're spending 24 percent of gdp and we're taking in 16%. we've got a spending problem. part of the spending problem is the recession that we've been in. the thing you've got to remember all of this has to be designed to get strong economic growth. the goal is not to cut spending or deal with the deficit. those are vehicles to get to the main goal getting the economy to grow at a faster rate. >> it is possible for someone to look at what he thinks government should provide for its citizens and it is possible to believe that 25% of gdp should be spent on government services. it is possible that he believes that
you need tax reform, in my view, corporate pad taxes are too high in the competitive world we're in. get those issues in front of them and then deal with the spending issues, which primarily are in medicare-medicaid and some of the other domestic -- >> how should people feel when they read this john boehner interview where he said the president said, we don't have a spending problem. how should people feel about that? >> if he said that, there's no way to agree with that. look,...
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Jan 16, 2013
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this despite talk of delaying the property tax reform due to insufficient planning and law making. >>> in hong kong all eyes on the chief executive's maiden policy speech with a focus on measures to tackle the housing crisis. developers reversed earlier losses to finish in the green, but telecos and energy majors dragged the market lower, ending down by a minor .1%. elsewhere, south korea's kospi finished marginally in the red. apple suppliers continued to weigh down the market over demand concerns on the iphone 5. the australian market bucked the down trend with the defense of telecos and health care stocks lending support. the sensex in action trading down by .5%. back to you. >> all right. thanks for that. we'll take a break. >>> still will to come, hong kong selling out new plans to show up housing woes. >>> okay, let's bring you up to speed with stories. hong kong's chief executive has delivered his first policy speech outlining measures to cool property prices, reduce pollution, and improve welfare. he said it's necessary to curb speculative activities in the real estate sector
this despite talk of delaying the property tax reform due to insufficient planning and law making. >>> in hong kong all eyes on the chief executive's maiden policy speech with a focus on measures to tackle the housing crisis. developers reversed earlier losses to finish in the green, but telecos and energy majors dragged the market lower, ending down by a minor .1%. elsewhere, south korea's kospi finished marginally in the red. apple suppliers continued to weigh down the market over...
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Jan 17, 2013
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whatever that tax rate works. it can cover their expense, buy books, scene their kids to school, put food on the table. it doesn't matter where the tax was a generation ago or three years ago because we assimilate, we're a productive capitalist society that assimilates. it on lie matters where you are. love steve liesman's presentation. it's about government spending. what i find fascinating, what we have here is on one side debt. on the other side we have stimulus but not really. okay. boy the board is even getting excited. but debt and stimulus are the same. it just depends on which side of the check you're on. the 1.2 trillion every year in debt is basically a stimulus. so why is it so shock or why is it that to stop increasing debt that once you do the numbers go down? you know what it's like? you remember those old cars in the old days. you had stick shift. your battery was dead you pushed it to get it going. say you have to pay your buddies 20 bucks to get a push. if after 50 pushes it doesn't start maybe th
whatever that tax rate works. it can cover their expense, buy books, scene their kids to school, put food on the table. it doesn't matter where the tax was a generation ago or three years ago because we assimilate, we're a productive capitalist society that assimilates. it on lie matters where you are. love steve liesman's presentation. it's about government spending. what i find fascinating, what we have here is on one side debt. on the other side we have stimulus but not really. okay. boy the...
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Jan 18, 2013
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part of that was due to a tax benefit. intel specsed a tax rate of 27% and got 23%. that helped a bit. gross margins came in stronger than expected at 58% where intel had guided to a mid point gross margin of 57%. but there was bad news beyond that for the investment community. for q11, intel guided to a mid point in revenue of $12.7 billion, plus or minus a half a billion dollars. and for the full fiscal year, 2013, intel said just expect low single digit revenue increases, growth margin to 60% and cap ex at $13 billion. that is a couple billion higher than wall street had expected. >> jon fortt there. we'll have more on china to come. our next guest weighs in. don't go anywhere. >>> welcome back to "worldwide exchange." china's economy rebounds in the fourth quarter topping expectationes and snapping seven straight quarters of slowing growth. the british government says there's no indication the hostage crisis is over in algeria. this as reports emerge that dozens may have been killed in the rescue operations. >>> intel shares under pressure as investors are unnerv
part of that was due to a tax benefit. intel specsed a tax rate of 27% and got 23%. that helped a bit. gross margins came in stronger than expected at 58% where intel had guided to a mid point gross margin of 57%. but there was bad news beyond that for the investment community. for q11, intel guided to a mid point in revenue of $12.7 billion, plus or minus a half a billion dollars. and for the full fiscal year, 2013, intel said just expect low single digit revenue increases, growth margin to...
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Jan 23, 2013
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other hand, if you look at the election and fact that a majority of the american public want to see taxes raised on the wealthy and indeed that has happened, you wonder whether or not the attorneys don't have a point. >> you know, it is a novel argument. there is precedent in a legal system for sp kind of prejudice against the defendant and what they are arguing here is that this prejudice wasn't race based or any other gender base. what we usually hear, it is class based. if you look at the media coverage leading up to and during the trial there was a lot of focus on his wealth and jurors were aware of that. they may have an arg a upt here, but it'll be a tough one to prove. >> yes, indeed it will. i know you will follow it for us. thanks, robert. >>> we want to let you know that white house is weighing in on the fact that white house just voted and it welcomes the passage of the debt ceiling suspension but repeats its feeling that it would like to see a long-term extension of the debt ceiling. >>> well, if you have an idea and you would like some big money behind it, don't move. we will
other hand, if you look at the election and fact that a majority of the american public want to see taxes raised on the wealthy and indeed that has happened, you wonder whether or not the attorneys don't have a point. >> you know, it is a novel argument. there is precedent in a legal system for sp kind of prejudice against the defendant and what they are arguing here is that this prejudice wasn't race based or any other gender base. what we usually hear, it is class based. if you look at...
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Jan 18, 2013
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cut, and the upper income tax hikes. the $250,000 of drag, right? so we just haven't seen that effect yet. >> all right, rebecca, i have two for you. number one is that i'm reading that the euro crisis this year is going to go on the back burner even though nothing's been settled. it just seems like people aren't as concerned about it. so, i guess that explains the euro's move. and then, this news out of japan that kelly's all -- talks about all the time. >> she's teed up on. >> she's very teed up on that. and reading some of the stuff that abe is getting accomplished, it is different. i mean they're going to do -- they're going to -- >> they're going to out-fed the fed. >> exactly. and you know, they haven't had -- do you remember the last time they've had 2% inflation? >> twice in the last two decades. briefly. one on the back of a tax increase. >> just really brief. >> they've flirted with 2% and that's come back -- >> you think they can orchestrate that? >> i'm dubious for now. but if you have a better u.s., a quiet
cut, and the upper income tax hikes. the $250,000 of drag, right? so we just haven't seen that effect yet. >> all right, rebecca, i have two for you. number one is that i'm reading that the euro crisis this year is going to go on the back burner even though nothing's been settled. it just seems like people aren't as concerned about it. so, i guess that explains the euro's move. and then, this news out of japan that kelly's all -- talks about all the time. >> she's teed up on....
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Jan 16, 2013
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you'll pay a big tax. well, apparently the repatriation is a lot more doable than they're being given credit for. i don't know exactly what that means, we'll bring it back once we do the lbo. the big question is why current management considered buying back stocks. there's a special committee here, of course. we'll see whether they can get to a price that every side agrees on and that shareholders will approve. >> yesterday, most of the day was spent pooh-poohing this deal. because of the repatriation. because of the equity check. >> it seemed to be insurmountable because the club deals are frowned upon at this point. >> then i want to ask you whether this is some sort of sea change. because this is obviously a much smaller check. yesterday we said it would be $8 billion. >> no, $4 billion to $5 billion. >> what i'm saying is, this is a rival departure from what we've seen from the little money put up. >> given the size of the hlbo - >> top line doesn't matter. this company's bottom line is larger than the
you'll pay a big tax. well, apparently the repatriation is a lot more doable than they're being given credit for. i don't know exactly what that means, we'll bring it back once we do the lbo. the big question is why current management considered buying back stocks. there's a special committee here, of course. we'll see whether they can get to a price that every side agrees on and that shareholders will approve. >> yesterday, most of the day was spent pooh-poohing this deal. because of the...
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it's really sort of taxed the entire hospital system. we have patients in our emergency room, have crowded a lot of patients in the emergency room. we've used a lot of techniques to accommodate the influx of patients we've seen. >> are you seeing at least at press, are other hospitals, those extraordinary measures that some have taken, are they beginning to pull back a bit? >> we're not pulling back yet. as i said, we've seen a slight decline in the last couple days. but we want to make sure it actually starts falling considerably before we pull back. we've got additional staff on board. we've opened up additional units in order to take care of these patients. we've created new protocols in our emergency room to tri to triage them so make sure they're not mixing with the other patients. those policies will still be in place for the next couple weeks likely. >> in kitchens, and offices around the country, people are still talking about whether to get a vaccination, right? >> yes. >> they can start as early as october. if you haven't gotte
it's really sort of taxed the entire hospital system. we have patients in our emergency room, have crowded a lot of patients in the emergency room. we've used a lot of techniques to accommodate the influx of patients we've seen. >> are you seeing at least at press, are other hospitals, those extraordinary measures that some have taken, are they beginning to pull back a bit? >> we're not pulling back yet. as i said, we've seen a slight decline in the last couple days. but we want to...
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with spending cuts of 120 billion, tax hikes of 480. by the way, this 120 still hangs around. that's the sequester. so now zoom out now, let's take a look at what the debt ceiling would be by contrast. there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen, right? that's what people say. >> okay. >> relax, steve. >> i'm okay. >> what happens is the rating agencies -- >> your heart rate is going. >> what's that? >> what about the ratings agencies if they were to downgrade us, if we went over, if we went over for a day it's one thing, if we went over and stayed for a week, do they look at it just because washington can't get along, that's reason enough for another do
with spending cuts of 120 billion, tax hikes of 480. by the way, this 120 still hangs around. that's the sequester. so now zoom out now, let's take a look at what the debt ceiling would be by contrast. there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there...